Bank Statement or 1099 Mortgage Loan
- NASB is a national leader in the non-QM lending space
- No tax returns needed
- In-house underwriting means a fast and worry-free loan process
- $175,000 minimum loan amount*
Home loan solutions for self-employed workers.
Are you self-employed or own a business and struggling to qualify for a mortgage? A Bank Statement or 1099 home loan from NASB could provide the flexibility you need.
Bank Statement Loan
Our Bank Statement Loan enables business owners to apply for a home loan without relying on net income from tax returns or pay stubs. Instead, we review your non-traditional income over 12 months using bank statements.
Bank Statement Loan requirements include:
- Must provide 12 consecutive months of bank statements from the same account
- 10% down payment required with mortgage insurance
- Up to 90% maximum Loan-To-Value (LTV)
- 700 minimum credit score
- 45% maximum debt-to-income ratio (DTI)
- $1,250,000 maximum loan amount, $175,000 minimum*
- Escrow for taxes and insurance is required
- A minimum of two years of self-employment or 1099 contract work is required, with exceptions for one year of self-employment in the same field
1099 Mortgage Loan
Our 1099 mortgage loan uses your 1099-NEC statements to verify your income and eligibility, eliminating the need for traditional tax documents.
1099 Mortgage Loan requirements include:
- The last 12 months of 1099-NEC income, less if 1099-NEC income is from the most recent employer.
- Documentation of year-to-date income
- 700 minimum credit score
- 20% minimum down payment
- $175,000 minimum loan amount*
Our Bank Statement and 1099 and mortgage loans may be an excellent option for:
- Self-Employed Professionals
- Business Owners
- Independent Contractors
- Entrepreneurs
- Healthcare Workers
- Freelancers
- Gig Workers
- Realtors
What Our Customers Say
Christina K., March 14, 2024
★★★★★ (5)
"The entire process was smooth and efficient. Everyone I've dealt with has been friendly and pleasant to deal with. I wouldn't hesitate to recommend NASB to friends and family."
"The entire process was smooth and efficient. Everyone I've dealt with has been friendly and pleasant to deal with. I wouldn't hesitate to recommend NASB to friends and family."
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*Bank Statement Loans require a minimum $175,000 loan amount (exceptions include mortgage products for properties located within the Greater Kansas City metro and surrounding areas), a minimum credit score of 680, and a 10% down payment with approved mortgage insurance. Contact a NASB Loan Officer for more details on the specific areas and/or zip codes excluded. Not available in New York state, the Chicago or Baltimore metropolitan areas, and not available in all locations or for all property types. Loans subject to underwriting and eligibility criteria, and other factors. Your loan officer will provide you with more information regarding Bank Statement loans and what may work best for your situation.